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7 May, 16:30

Find the length of time fo $500 to be the interest on $1800 at 6% p. a

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  1. 7 May, 16:44
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    If it is simple interest,

    500 = 1800 x 6/100 x t

    500 = 108t

    t = 4.63 years

    If it is compound interest,

    2300 = 1800 (1+6/100) ^t

    t = 4.2067 years
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